{"id":94725,"date":"2024-08-12T00:00:00","date_gmt":"2024-08-12T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/property-sales-and-rents-up-in-abu-dhabi-in-2q-2024-valustrat\/"},"modified":"2024-08-12T00:00:00","modified_gmt":"2024-08-12T00:00:00","slug":"property-sales-and-rents-up-in-abu-dhabi-in-2q-2024-valustrat","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2024\/08\/12\/property-sales-and-rents-up-in-abu-dhabi-in-2q-2024-valustrat\/","title":{"rendered":"Property sales and rents up in Abu Dhabi in 2Q 2024 -ValuStrat"},"content":{"rendered":"

Abu Dhabi\u2019s residential and commercial markets showed \u201crobust growth <\/strong>and <\/strong>stability\u201d in 2Q 2024<\/strong>, according to a report<\/a> by ValuStrat. Growth came despite declines in off-plan sales and residential ticket sizes in the emirate.<\/p>\n

Prices continued to rise in 2Q:<\/strong> ValuStrat\u2019s price index in Abu Dhabi rose 4.4% y-o-y, and 1.3% quarterly in 2Q 2024. Prices for villas in Abu Dhabi rose by 7.3% y-o-y during the quarter, while prices in the apartment segment \u201cstabilized,\u201d with marginal capital gains of 1.4% y-o-y in 2Q 2024.<\/span><\/p>\n

But average sales value declined for both off-plan and ready units:<\/strong> The average ticket size for off-plan units decreased 18.4% y-o-y during 2Q to AED 2 mn, while off-plan transaction volume decreased by 41% y-o-y, driven by fewer project launches this year. The average ticket size for ready homes also fell by 2.7% y-o-y to AED 2.3 mn, despite a 44.1% y-o-y increase in transaction volume.<\/p>\n

On the rentals side: <\/strong>Rates in Abu Dhabi\u2019s rental market grew by 4.4% y-o-y in 2Q 2024, with average residential occupancy rates jumping to 91.6%. Villa rental rates grew 5.7% y-o-y. Meanwhile, apartment rental rates increased 3.2% y-o-y.<\/p>\n

CBRE and ValuStrat differ on where price and rental increases lie: <\/strong>CBRE said apartment prices rose in the emirate by 6.2% y-o-y, while villa prices grew 3.9% y-o-y. Rentals for apartments were estimated to have risen 6.6% y-o-y, while villa prices grew at a more marginal 2.5% y-o-y. <\/p>\n

REMEMBER- Apartments and villa prices and rentals <\/strong>increased<\/a><\/strong> in the emirate in 1H 2024<\/strong>, with luxury apartments seeing the biggest rental hike at 21% y-o-y, while luxury villas saw the biggest sales price growth, Bayut estimated. <\/p>\n

THE OFFICE MARKET- <\/p>\n

Asking rents in primary commercial districts grew by 13.7% y-o-y, <\/strong>and 9.1% q-o-q, the report adds. Average occupancy in central business districts stood at 88.7% during the quarter.<\/p>\n","protected":false},"excerpt":{"rendered":"

Prices for villas rose by 7.3%, while rentals for apartments surged 3.2% during 2Q<\/p>\n","protected":false},"author":1,"featured_media":94726,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1565],"tags":[1360,7,98],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-94725","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estate","tag-abu-dhabi","tag-enterpriseam-uae","tag-real-estate","wpautop","entry"],"acf":{"mongo_id":"75f90c46-06af-4c2a-b909-1bbab045803e","order":"8","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/7\/1802.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Property sales and rents up in Abu Dhabi in 2Q 2024 -ValuStrat","related_issue":[94712],"teaser":"Prices for villas rose by 7.3%, while rentals for apartments surged 3.2% during 2Q","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/8\/.2812cbb2-1e71-41f2-99b8-39e3c51816c2.mp3"},"yoast_head":"\nProperty sales and rents up in Abu Dhabi in 2Q 2024 -ValuStrat - 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